Save Article

Strong Gains in Asian Stocks
Cause Treasurys to Fall Off

By

Guy Dixon and

Gregory Zuckerman Staff Reporters of The Wall Street Journal

Updated Feb. 3, 1998 2:17 a.m. ET

NEW YORK -- Sharp gains in stock markets around the globe sent bonds tumbling, as investors saw a reduced need for the safety of U.S. Treasurys amid growing hopes that the worst of Asia's economic difficulties had passed.

In late trading, the bellwether 30-year Treasury bond fell 1 3/32, or $10.938 for each $1,000 in face value, to 103 14/32. The bond's yield, which moves in the opposite direction of its price, rose to 5.87% from...